terms and conditions

Terms and conditions of use

1. Introduction
1.1. These terms and conditions govern your use of our website – www.bridgetoindia.com.By using our website, you accept these terms and conditions in full; if you disagree with any part of these terms and conditions, you must not use our website.
1.2. You must be at least 18 years of age to use our website; by using our website, you warrant and represent to us that you are at least 18 years of age.

2. Our details
2.1. This website is owned and operated by BRIDGE TO INDIA Energy Private Limited.
2.2. We are registered in India under registration number CIN: U40106 HR2008 PTC058267, and our registered office is at C8/5 DLF 1, Gurugram 122001, INDIA.
2.3. Our principal place of business is at C8/5 DLF 1, Gurugram 122001, INDIA.
2.4. Our GST number is 06AADCB 6783 D1ZQ.
2.5. You can contact us by post at the address given above or by telephone on +91-124-420-4003 or by email at contact@bridgetoindia.com.

3. Ownership and licence to use
3.1. All information and content on our website is owned exclusively by us. We reserve the right to discontinue or alter any or all of the website content at any time.
3.2. The website contents are protected by Indian copyright and international copyright/intellectual property laws under applicable treaties and/or conventions.
3.3. We grant you a personal, non-exclusive, non-transferable licence to use the website.
3.4. We reserve the right to restrict access to our website at our discretion; you must not circumvent or bypass, or attempt to circumvent or bypass, any such access restriction measures.

4. Acceptable use
4.1. You must not edit or modify any material on our website.
4.2. You must not:
(a) sell, rent or sub-license material from our website;
(b) share, reproduce or copy any material from our website without our express written consent.
4.3. You must not:
(a) use our website in any way or take any action that causes, or may cause, damage to the website or impairment of the performance, availability or accessibility of the website;
(b) use our website in any way that is unlawful, illegal, fraudulent or harmful;
(c) conduct any systematic or automated data collection activities (including without limitation scraping, data mining, data extraction and data harvesting) on or in relation to our website;
(d) use data collected from our website for any direct marketing activity (including without limitation email marketing, SMS marketing, telemarketing and direct mailing).

5. Limited warranties
5.1. We do not warrant or representcompleteness or accuracy of the information published on our website. The information available on our website is of general use and may not be suitable for you.
5.2. We aim to provide accurate and up-to-date information but are not legally liable for the accuracy of such information.
5.3. You use our website at your own risk.
5.4. To the maximum extent permitted by applicable law, we exclude all representations and warranties relating to the subject matter of these terms and conditions, our website and the use of our website.

6. Registration and accounts
6.1. You may register for an account with our website by completing and submitting the account registration form on our website.
6.2. You must keep your password confidential.
6.3. You must not use any other person’s account to access the website.
6.4. You must not allow any other person to use your account to access the website.
6.5. You must notify us in writing immediately if you become aware of any unauthorised use of your account.
6.6. We may suspend or cancel your accountat any time in our sole discretion without notice or explanation.

7. Purchases
All purchases made on this website are non-refundable and non-exchangeable.

8. Your content
8.1. In these terms and conditions, “your content” means all information and materials (including without limitation text, graphics, images, audio material, video material, audio-visual material, scripts, software and files) that you submit to us for storage or publication on, processing by, or transmission via, our website.
8.2. You grant to us a worldwide, irrevocable, non-exclusive, royalty-free licence to reproduce, store and, with your specific consent, publish your content on our website.
8.3. You warrant and represent that your content will comply with these terms and conditions. Your content must not be illegal or unlawful, must not infringe any person’s legal rights, and must not be capable of giving rise to legal action against any person (in each case in any jurisdiction and under any applicable law).
8.4. Your content, and the use of your content by us in accordance with these terms and conditions, must not:
(c) infringe any copyright, trade mark or other intellectual property right;
(k) be in breach of any contractual obligation owed to any person;
(n) be untrue, false, inaccurate or misleading;

9. Privacy
9.1. Information collection and use – For a better experience while using our website, we may require you to provide us with certain personally identifiable information, including but not limited to your name, phone number andemail address. The information that we collect may be used to contact or identify you.
9.2. If you use our website, you agree to the collection and use of information in relation with these terms and conditions. The personal information collected by us is used for providing and improving our services. We will not use or share your information with anyone except as described here.
9.3. Log data – Whenever you visit our website, we collect information that your browser sends to us including your computer’s Internet Protocol address, pages of our website visited by you, the time and date of your visit, the time spent on those pages, and other statistics.
9.4. Cookies – these are files with small amount of data that is commonly used as anonymous unique identifier. These are sent to your browser from the website and are stored on your computer’s hard drive.Our website uses these “cookies” to collection information and to improve our website. You have the option to either accept or refuse these cookies and know when a cookie is being sent to your computer. If you choose to refuse our cookies, you may not be able to use some portions of our Service.
9.5. Service providers – We may employ third-party companies and individuals to improve or repair our website and to assist with running our business activities etc. These third parties may have access to your personal informationto perform the tasks assigned by us to them. However, they are obligated not to disclose or use the information for any other purpose.
9.6. Security – We value your personal information and strive to protect it and keep it confidential. But as no technology or system can be 100% secure and reliable, we cannot guarantee absolute security of your personal information.
9.7. Links to other sites – Our website may contain links to other sites. These external sites are not operated by us and we have no control over, and assume no responsibility for their content, privacy policies, or any other business practices.
9.8. Children’s privacy – Our website does not serve anyone under the age of 18. We do not knowingly collect personal identifiable information from children under 18. If you are a parent or guardian and you are aware that your child has provided us with personal information, please contact us so that we can delete their information and take any other necessary actions.

10. Breach of these terms and conditions
10.1. Without prejudice to our other rights under these terms and conditions, if you breach these terms and conditions in any way, or if we reasonably suspect that you have breached these terms and conditions in any way, we maysuspend your access to our website, prohibit you permanently from accessing our website and/or commence suitable legal action against you, whether for breach of contract or otherwise.
10.2. Where we suspend or prohibit or block your access to our website or a part of our website, you must not take any action to circumvent such suspension or prohibition or blocking (including without limitation [creating and/or using a different account).

11. Amendments
11.1. We may revise these terms and conditions from time to time.
11.2. The revised terms and conditions shall apply to the use of our website from the date of publication of the revised terms and conditions on the website, and you hereby waive any right you may otherwise have to be notified of, or to consent to, revisions of these terms and conditions.

12. Others
12.1. You hereby agree that we may assign, transfer, sub-contract or otherwise deal with our rights and/or obligations under these terms and conditions.
12.2. You may not without our prior written consent assign, transfer, sub-contract or otherwise deal with any of your rights and/or obligations under these terms and conditions.
12.3. If a provision of these terms and conditions is determined by any court or other competent authority to be unlawful and/or unenforceable, other provisions will continue in effect.
12.4. The exercise of your and our rights under these terms and conditions is not subject to the consent of any third party.
12.5. The terms and conditions constitute the entire agreement between you and us in relation to your use of our website and supersede all such previous agreements between you and us.
12.6. These terms and conditions shall be governed by and construed in accordance with Indian Law.
12.7. Any disputes relating to these terms and conditions shall be subject to the exclusivejurisdiction of the courts of India.

Successful sale of solar assets driving confidence in the sector

As the Indian solar sector grows, there has been growing pressure on Indian project developers to churn their capital. The merger and acquisition (M&A) activity in the sector is gathering pace and it is believed that as many as 3,000 MW of projects are on sale right now. Last week, a report quoted that IDFC Alternatives, an Indian private equity fund, is in advanced discussions to buy 275 MW of solar assets from Acme Solar (refer). This comes on the heels of successful closure of Welspun’s sale of 990 MW of solar assets to Tata Power (refer) and another reported sale of 337 MW of renewables capacity by NSL to Brookfield Asset Management.

Sale of post-development renewables assets is a time-tested and proven method to free up capital but there have been very few successful exits in India

The Indian solar market is shifting gears to move into the next phase of its development and a liquid secondary market is essential for its sustainable growth

A few more successful deals and/ or listings will help set more industry benchmarks, act as a proof of concept and attract other investors to the sector

There are essentially two routes for project developers to recycle their investment and free up capital for future growth. Sale of post-development renewables assets is a time-tested and proven method in other countries. It is relatively quick and easy with a highly standardised approach but India does not have the kind of domestic patient capital – typically utilities and pension funds or insurance companies looking for long-term predictable cash flows – needed for buyout of such assets. International pension and insurance funds have been the mainstay of secondary markets worldwide, but so far they have stayed out of India. Public listing of businesses or special purpose investment vehicles is another viable option with many successful international examples (NRG Yield, NextEra Energy, Abengoa Yield, Pattern Energy Group and TransAlta Renewables in the USA) but so far, there is none in India. Indian renewable IPPs have not been able to muster the scale or profitability to successfully list on stock exchanges.

The lack of secondary capital raising options has been a big concern. Other than the transactions listed above, examples of successful exits in the sector have been very few so far. Sembcorp, the Singapore based utility was a notable exception when it bought majority control in Green Infra with a total capacity of 516 MW in 2014. Part of the problem is the big gap in valuation expectations of developers and secondary market investors. Competitive bidding nature of the Indian market means that margins are relatively thin to pay a reasonable premium to initial developers as well as a satisfactory risk adjusted return to secondary investors.

It appears that things are beginning to change slowly. With yields in their home markets at all-time lows, international pension and insurance funds are eyeing Indian investments. Some transactions have already fructified in the road sector (refer) and we believe that solar transactions are not far away. Meanwhile, Azure Power and Renew Power are believed to be planning an Initial Public Offering (IPO).

The Indian solar market is shifting gears to move into the next phase of its development and a liquid secondary market is essential for its sustainable growth. A few more successful deals and/ or listings will help set more industry benchmarks, act as a proof of concept and attract other investors to the sector.